Federal bank regulators want depository institutions to not waste time implementing the FASB's new standard for credit losses. The regulators want banks to make a full commitment to the implementation process to make sure it is carried out in a disciplined and orderly fashion.Read Full Article →

In "emergency interim guidance," IRS's Small Business/Self Employed Division has instructed its auditors to contact IRS counsel if, during an audit concerning a wage issue, a taxpayer makes an argument regarding worker classification or relief under section 530 of the Revenue Act of 1978 ("section 530").Read Full Article →

(Reuters) - Puerto Rico's newly created federal oversight board, charged with helping the U.S. commonwealth navigate through a crushing $70 billion debt burden, announced it will hold its first meeting in New York City on Sept. 30.Read Full Article →

(Reuters) - Crude prices rebounded on Monday after Algeria's energy minister said the day before that all options were possible for an oil output cut or freeze at this week's informal meeting of OPEC producers.Read Full Article →

(Reuters) - The split at the Federal Reserve over when to next raise interest rates appears to hinge largely on disagreements over the labor market outlook, comments from policymakers on Friday suggest.Read Full Article →